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Non-Tech : FedEx (FDX)

FDX 256.90

-2.0%

10:37 AM EST

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To: alex pierson who wrote (256)	12/7/1998 6:09:00 PM
From: esterina	Read Replies (1) of 524

Also long and love ABF too. This is an old article but very interesting. This analyst just didn't get into Barons. RESEARCH ALERT - Airborne Freight (NYSE:ABF) upgraded Reuters, Wednesday, November 11, 1998 at 14:14 SEATTLE, Nov 11 (Reuters) - Piper Jaffray on Wednesday upgraded Airborne Freight Corp. to strong buy from accumulate, saying the stock has "fully discounted a negative economic scenario" and is undervalued. -- The brokerage also cut its 1998 earnings estimate to $2.62 a share from $2.69, vs. $2.42 in 1997, analyst Bob Toomey said in a report. The 1999 estimate remains unchanged at $2.55 a share. -- The brokerage set a price target of $35 to $40 a share, or about 15 times "normalized" earnings. -- Airborne was up 11/16 at 27-11/16. Copyright 1998, Reuters News Service

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